Insider Selling: Immersion (NASDAQ:IMMR) Major Shareholder Sells $74,250.00 in Stock

Immersion Corporation (NASDAQ:IMMR) major shareholder Toro 18 Holdings Llc sold 15,000 shares of Immersion stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $4.95, for a total value of $74,250.00. Following the sale, the insider directly owned 1,286,051 shares in the company, valued at $6,365,952.45. The trade was a 1.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Toro 18 Holdings Llc also recently made the following trade(s):

• On Wednesday, August 19th, Toro 18 Holdings Llc sold 8,300 shares of Immersion stock. The shares were sold at an average price of $4.83, for a total value of $40,089.00.
• On Monday, August 17th, Toro 18 Holdings Llc sold 43,596 shares of Immersion stock. The stock was sold at an average price of $5.25, for a total transaction of $228,879.00.
• On Monday, August 10th, Toro 18 Holdings Llc sold 200,000 shares of Immersion stock. The stock was sold at an average price of $5.22, for a total transaction of $1,044,000.00.

Immersion Trading Down 2.7%

IMMR opened at $7.51 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.30 and a quick ratio of 1.19. Immersion Corporation has a fifty-two week low of $5.25 and a fifty-two week high of $8.05. The company’s 50 day moving average price is $7.01 and its two-hundred day moving average price is $6.48. The firm has a market capitalization of $249.27 million, a price-to-earnings ratio of 53.64 and a beta of 1.02.

Immersion (NASDAQ:IMMR) last issued its quarterly earnings results on Friday, July 24th. The software maker reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $270.00 million for the quarter, compared to analyst estimates of $230.00 million. Immersion had a net margin of 0.26% and a return on equity of 0.80%. As a group, research analysts predict that Immersion Corporation will post 0.26 earnings per share for the current year.

Immersion Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 20th were paid a $0.075 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $0.30 annualized dividend and a dividend yield of 4.0%. Immersion’s dividend payout ratio is presently 214.29%.

Hedge Funds Weigh In On Immersion

A number of institutional investors and hedge funds have recently modified their holdings of IMMR. Kanen Wealth Management LLC increased its stake in shares of Immersion by 51.0% in the 1st quarter. Kanen Wealth Management LLC now owns 709,000 shares of the software maker’s stock valued at $3,871,000 after acquiring an additional 239,318 shares in the last quarter. Rangeley Capital LLC acquired a new stake in Immersion in the first quarter worth $410,000. Strs Ohio bought a new stake in Immersion in the first quarter valued at $27,000. PDT Partners LLC bought a new stake in Immersion in the second quarter valued at $87,000. Finally, Caitlin John LLC acquired a new position in shares of Immersion during the second quarter valued at about $27,000. 60.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings lowered Immersion from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. BWS Financial restated a “buy” rating and issued a $13.50 price target on shares of Immersion in a research report on Tuesday, July 28th. Wall Street Zen raised shares of Immersion from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Zacks Research raised shares of Immersion to a “hold” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.50.

About Immersion

Immersion Corporation is a technology company specializing in the development and licensing of haptic feedback solutions. The company’s proprietary software and hardware technologies enable devices to simulate the sense of touch, enhancing user experiences across a range of electronic products. Immersion’s core offerings include touch-feedback algorithms, software development kits, and reference designs that can be integrated into smartphones, gaming controllers, wearable devices, automotive infotainment systems, medical simulators and virtual or augmented reality platforms.

Since its founding in 1993, Immersion has built an extensive intellectual property portfolio of more than 950 issued patents worldwide.